Milton Friedman on Capitalism

Posted Feb 20, 2016 by Martin Armstrong

Most of the wealth earned by the 1% is from INVESTMENT, not wages. So why are the 99% oppressed? Largely taxes. For example, Social Security is a simple tax. That money is not invested in your future. The government robs from Social Security and stuffs it with government debt, which they then move toward negative interest rates. This deprives the average person from earning anything on those funds that were supposed to be for retirement.

When I worked to try to turn Social Security into a wealth fund investment, bringing the money into the free market and allocating it to fund managers (I exempted myself), the Dow was 1,000. Social Security today would be a real fund and the bulk of the people would have MADE MONEY in the same manner as the 1%. It was government and its greed that has suppressed the people, not the 1% because they invested. A FREE MARKET should be where everyone can invest their own money, for surely government is incapable of keeping their fingers out of everyone’s pocket.